ANALYSIS OF DETERMINANTS INFLUENCING THE GROWTH OF NET OPERATING SURPLUS (SISA HASIL USAHA) IN SAVINGS AND CREDIT COOPERATIVES: A LONGITUDINAL STUDY OF KSP CU HARAPAN KITA BELAWAN (2016–2024)

Sihol Marito Siregar, Eddy Iskandar, Mekar Meilisa Amalia

Abstract


Savings and Credit Cooperatives (Koperasi Simpan Pinjam / KSP) and Credit Unions (CU) occupy a strategic position within Indonesia's socioeconomic architecture, functioning as grassroots financial institutions designed to advance financial inclusion and elevate member welfare. Unlike conventional commercial banks, a cooperative measures operational success through its Net Operating Surplus (Sisa Hasil Usaha / SHU), which reflects net earnings after settling operational costs, statutory reserves, and tax obligations. This longitudinal empirical study examines the primary operational factors influencing the growth trajectory of Net Operating Surplus at KSP CU Harapan Kita Belawan across an extensive nine-year observation window (2016–2024). Employing a quantitative descriptive methodology, secondary time-series data were gathered through comprehensive documentary analysis of audited Annual Member Meeting (Rapat Anggota Tahunan / RAT) accountability reports. Growth dynamics were modeled and evaluated using year-over-year percentage growth rate algorithms across four fundamental cooperative parameters: active member size, member savings mobilization, loan disbursement volume, and Net Operating Surplus. Empirical findings demonstrate that active membership experienced consistent numerical expansion from 41,599 members in 2016 to a peak of 66,402 members in 2023 (growth rates moderating from 14.09% in 2017 to 2.23% in 2023) before experiencing a slight contraction of -1.41% in 2024 (65,463 members). Member savings mobilization exhibited volatile shifts, surging by 130.67% in 2019 (IDR 63.07 billion) and 106.00% in 2020 (IDR 129.93 billion) before decelerating substantially in subsequent operating cycles (-73.60% in 2021). Loan disbursements displayed sharp fluctuations, contracting by -51.46% in 2018 and -71.99% in 2020 before rebounding dramatically by 447.52% in 2022 (IDR 42.80 billion). Net Operating Surplus tracked an erratic path (surging from IDR 48.75 million in 2016 to IDR 103.55 million 180 in 2019, contracting to IDR 31.28 million in 2021, and recovering to IDR 64.48 million in 2023). Cross-variable comparative analysis reveals that loan disbursement volume constitutes the primary economic driver governing SHU growth, as interest margins from active credit portfolios represent the cooperative's core revenue engine. While membership expansion provides a foundational base, SHU vitality depends critically on productive credit deployment rather than passive liquidity accumulation. Consequently, cooperative management must enhance credit allocation efficiency, enforce prudent credit underwriting, and introduce member-centric loan products to sustain long-term surplus generation


Keywords


Credit Union, Savings and Credit Cooperative, Net Operating Surplus (SHPU), Member Growth, Savings Mobilization, Loan Disbrusement, Belawan

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DOI: https://doi.org/10.46576/prosundhar.v6i0.631

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